Stephens Upgrades Texas Roadhouse (NASDAQ:TXRH) to “Overweight”

Texas Roadhouse (NASDAQ:TXRH) was upgraded by research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a $205.00 price objective on the restaurant operator’s stock. Stephens’ target price suggests a potential upside of 21.73% from the company’s previous close.

A number of other equities research analysts have also issued reports on TXRH. Weiss Ratings raised Texas Roadhouse from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 9th. TD Cowen lifted their target price on shares of Texas Roadhouse from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 7th. UBS Group lifted their price target on Texas Roadhouse from $210.00 to $235.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Evercore set a $220.00 price target on shares of Texas Roadhouse in a research note on Friday, September 25th. Finally, Seaport Research Partners initiated coverage on shares of Texas Roadhouse in a report on Wednesday, September 16th. They set a “buy” rating and a $195.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $207.68.

Texas Roadhouse Price Performance

TXRH traded down $2.57 during trading on Thursday, reaching $168.40. The stock had a trading volume of 1,646,831 shares, compared to its average volume of 1,072,312. Texas Roadhouse has a 1-year low of $153.82 and a 1-year high of $216.30. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $180.77 and a two-hundred day moving average of $179.34. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 1.66 and a beta of 0.80.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that Texas Roadhouse will post 6.59 EPS for the current fiscal year.

Insider Buying and Selling

In other Texas Roadhouse news, insider Lloyd Marshall sold 500 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $204.65, for a total value of $102,325.00. Following the sale, the insider directly owned 9,826 shares in the company, valued at $2,010,890.90. This trade represents a 4.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory N. Moore sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total transaction of $624,960.00. Following the transaction, the director owned 26,900 shares in the company, valued at approximately $5,603,808. The trade was a 10.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 19,970 shares of company stock worth $4,061,808. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Texas Roadhouse

Institutional investors and hedge funds have recently bought and sold shares of the business. Ranger Investment Management L.P. bought a new stake in shares of Texas Roadhouse in the 2nd quarter worth about $21,560,000. The Manufacturers Life Insurance Company bought a new position in Texas Roadhouse during the 2nd quarter valued at about $9,473,000. J. Goldman & Co LP bought a new position in Texas Roadhouse during the 2nd quarter valued at about $10,434,000. Bamco Inc. NY acquired a new position in Texas Roadhouse in the second quarter valued at about $60,148,000. Finally, Callan Family Office LLC acquired a new position in Texas Roadhouse in the second quarter valued at about $1,449,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant company that operates and franchises restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for hand-cut steaks, made-from-scratch sides, fresh-baked bread and a lively, Western-themed atmosphere.

Founded in 1993 and headquartered in Louisville, Kentucky, Texas Roadhouse has grown into an international restaurant operator with locations across the United States and in select foreign markets. The company’s business includes company-operated restaurants, franchised and licensed locations, and related support activities.

Texas Roadhouse primarily serves full-service casual dining customers, while Bubba’s 33 focuses on burgers, pizza and other American favorites in a sports-oriented setting.